Constellium will continue to own and operate its cast houses, plate and extrusion manufacturing plants and other manufacturing assets at Sierre. As part of this agreement, Constellium and Novelis also agreed to enter into long-term production and metal supply agreements.

Constellium and Novelis have agreed to suspend the arbitration proceedings on the Sierre facility dispute until closing of this transaction, which is expected second quarter 2018 and subject to customary closing conditions.

Constellium develops aluminium products for a broad scope of markets and applications, including packaging. Constellium generated €4.7 billion of revenue in 2016.

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